NBIF has launched a new series of funding programs with the goal of “Providing access to AI expertise, talent and research for NB companies to increase their productivity and competitiveness”.
The programs:
Launched on October 21, 2021 and close August 21, 2022
Are run by the New Brunswick Innovation Foundation
Will invest $3.2M in Artificial Intelligence (AI) R&D in New Brunswick
These programs are exclusively offered to companies who:
Are headquartered in NB
Have a problem statement showing how AI might be able to help their business
Had demonstrated revenue in FY20-21
Have digitized data and can use computers to control aspects of their operations
NBIF are looking for projects that:
Involve a researcher based at one of NB’s universities, colleges, or research institutions
Center on an application of AI - the use of robotics or data analytics alone does not qualify
Are a maximum of 1.5 years in length
Can help your company to test, adopt or implement an AI based solution
The financing on approved projects:
Is a non-repayable grant
The NBIF funding is paid directly to the academic researcher
Eligible expenses include salaries (at the academic institution), software, consumables, travel and limited hardware (any equipment purchased remains property of the academic institution)
